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THE competition watchdog has opened consultation on the key framework governing the price and supply conditions of the National Broadband Network.

NBN Co lodged its Special Access Undertaking (SAU) with the Australian Competition and Consumer Commission in late September, and the regulator is now seeking feedback on the agreement before accepting it.

The ACCC's chairman Rod Sims says the document is complex, and needs to be effective now and decades into the future.

"The proposed SAU appears to set out a workable overall regulatory framework for the supply of NBN Co's services for the next 30 years," he noted in a statement.

"Yet there are many complex issues of detail and drafting to be assessed and debated before the ACCC can determine whether it is reasonable and promotes the long term interests of end-users."